Tuesday, September 11, 2012

Our Regressive Taxes

This post has one of the best analyses I've read concerning  the amount of tax low-income Americans pay; the result is much worse than you think, proving we have a horribly regressive tax system in place. The snippet is the bottom line.

John R. Talbott: Do the Rich Pay Their Fair Share of Taxes?
...I have watched my native Kentucky lose its manufacturing plants overseas and have its union plants busted up solely by the threat to outsource jobs. Manufacturing wages in my parent's home town in Kentucky have declined from $15 an hour plus benefits to $7-$8 an hour with no benefits.

You cannot raise a family on seven dollars an hour even if both parents work. We are killing this country. CEOs, entrepreneurs, bankers, lawyers, doctors and politicians at the top of the pyramid are all benefiting from the lower cost of labor for their employees and the lower cost of goods imported from low-wage countries. But our workers, our dear workers are getting crushed. This is not the America I grew up in. And this shall not stand.

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